ABB pipe-line management loan to KazTransOil

/KASE, Oct 23, 00/ - ABB German concern granted KazTransOil $43 mln on development of pipeline management. Under the loan program, KazTransOil will implement the system of supervisory control and pipeline management (SCADA). The press release of the KazTransOil informed that tender over SCADA implementation was won by ABB Automation Systems GmbH. The financing will be carried out by ABB Structured Finance - member of ABB Financial Services. Repayment terms include provision of KazTransOil banking guarantee for $7.5 mln or 19% of the total loan sum. The rest sum will be backed up by corporate guarantee of the company without participation of a financial institution. The SCADA system has been already included into 5 years plan of KazTransOil development. It would provide centralised control over pipeline system. KazTransOil will be able to increase reliability of the pipeline system, stability of the technological process. One of the main features of the system is its capacity to track leakage and measures its size. The participant plan to introduce the project in two years period. The press release also had informed that Moscow Institute for Trunk Pipelines Designing (Gyprotruboprovod) and Tomsk Institute for Safety Examination of Oil and Gas Pipe- Trunk Lines Objects (EleSi LLP) gave positive conclusions over the project.